The Economy

Re Blogged A Failure of Governance ~ Dennis Rakiey

A Failure of Governance

Second in a Three Part Series

The Economy

The Economy

“The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes”.-Abraham Lincoln


In February 2009, the House Financial Services Committee conducted hearings to determine the cause of the 2008 financial collapse.  The titans of the financial industry were called before the committee and while some House Committee members resorted to speech making, other representatives did ask poignant questions.  The banking executives, once the darlings of their respected financial intuitions, exited committee meetings appearing more like the trolls of industry.  It was great theater!

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